A GUIDE ON SETTING UP A COMPANY IN SAUDI ARABIA AND OBTAINING 100% BUSINESS OWNERSHIP

Set up your company in Saudi Arabia


Setting up a company in Saudi Arabia can be a complex process, but with the right guidance and support, it can be a relatively straightforward process. Here's a step-by-step guide on how to set up a company in Saudi Arabia and obtain 100% business ownership:


Step 1: Choose the type of company you want to set up

The first step in setting up a company in Saudi Arabia is to decide on the type of company you want to establish. The most common types of companies in Saudi Arabia are Limited Liability Companies (LLCs), Joint Stock Companies (JSCs), and Branches.


Step 2: Choose a company name

Once you have decided on the type of company you want to establish, you will need to choose a name for your company. The name must be approved by the Ministry of Commerce and Investment (MOCI).


Step 3: Obtain necessary licenses and approvals

Before you can set up your company, you will need to obtain several licenses and approvals from various government agencies. These include a commercial registration certificate, a tax registration certificate, and a license from the relevant municipality.


Step 4: Register with the Saudi Arabian General Investment Authority (SAGIA)

If you are a foreign investor, you will need to register with SAGIA to obtain a Foreign Investment License (FIL) before you can establish your company. This license allows you to own 100% of your business and operate in Saudi Arabia.


Step 5: Open a bank account

Once you have obtained all the necessary licenses and approvals, you will need to open a bank account in Saudi Arabia. This is required to deposit the minimum capital required to establish your company


Step 6: Deposit the minimum capital

The minimum capital required to establish a company in Saudi Arabia varies depending on the type of company you are establishing. Once you have deposited the minimum capital, you will receive a bank certificate which you will need to submit to the MOCI.


Step 7: Register your company with the MOCI

Once you have completed all the necessary steps, you can register your company with the MOCI. You will need to submit all the necessary documents and pay the registration fee.


Step 8: Obtain a residency permit and work visa

If you are a foreign investor, you will need to obtain a residency permit and work visa to live and work in Saudi Arabia. You can apply for these through SAGIA.


Takeaway 


In conclusion, setting up a company in Saudi Arabia can be a complex process, but with the right guidance and support, it can be a relatively straightforward process. It's important to work with a trusted advisor who can guide you through the process and help you navigate the various requirements and regulations.


We at ThinkBPO are always ready to support you in any complication, to Set up your Business in Saudi Arabia seamlessly contact us.

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